Crypto exchange OKX has published its fourth monthly Proof of Reserves (PoR) showing $8.6 billion held in clean assets including BTC, ETH, and USDT.

OKX’s February reserves report has grown by nearly 15% compared to its January report of $7.5 billion. The exchange currently holds about $8.6 billion in BTC, ETH, and USDT.

$8.6 billion in Clean assets

The exchange reserve holds about $485.3 million in BTC, $338.2 million in ETH, and $199.9 million in USDT, according to the OKX Nansen dashboard.

Overall the OKX reserve is over-collateralized, with a reserve ratio of 104% each for BTC and ETH, while the USDT reserve ratio sits at 102%.

CryptoQuant data shows that all the OKX reserves are “100% clean”. An exchange’s reserve is considered clean if the reserves are solely made up of high market cap crypto assets and not the exchange’s native token.

Growing interest in OKX PoR

Following the collapse of FTX, OKX committed to publishing its POR report every month. Over the period, OKX users have reportedly flocked to verify their holdings.

OKX disclosed that over 175,000 unique users had visited the PoR page — while over 90,000 unique users have verified that their liabilities are accounted for in the monthly proof of reserve publication.

So far, OKX has published over 23,000 addresses for its Merkle Tree PoR program, which allows the public to view their asset flows.

The post OKX Proof of Reserves report shows $8.6B in clean assets appeared first on CryptoSlate.

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Filed under: Bitcoin - @ February 20, 2023 9:25 am